Tidal Investments LLC Acquires 14,164 Shares of Xerox Holdings Co. (NYSE:XRX)

Tidal Investments LLC grew its holdings in shares of Xerox Holdings Co. (NYSE:XRX) by 26.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 68,359 shares of the information technology services provider’s stock after acquiring an additional 14,164 shares during the period. Tidal Investments LLC owned about 0.05% of Xerox worth $710,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of XRX. Los Angeles Capital Management LLC lifted its holdings in Xerox by 5.9% during the 2nd quarter. Los Angeles Capital Management LLC now owns 23,930 shares of the information technology services provider’s stock worth $278,000 after buying an additional 1,327 shares during the period. Louisiana State Employees Retirement System raised its position in shares of Xerox by 2.7% during the second quarter. Louisiana State Employees Retirement System now owns 57,500 shares of the information technology services provider’s stock worth $668,000 after acquiring an additional 1,500 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Xerox by 2.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 63,666 shares of the information technology services provider’s stock worth $740,000 after purchasing an additional 1,627 shares during the period. US Bancorp DE boosted its position in Xerox by 42.3% during the third quarter. US Bancorp DE now owns 6,353 shares of the information technology services provider’s stock valued at $66,000 after acquiring an additional 1,888 shares during the last quarter. Finally, Gladius Capital Management LP acquired a new position in shares of Xerox in the 3rd quarter valued at about $29,000. Institutional investors own 85.36% of the company’s stock.

Xerox Stock Down 1.5 %

Shares of NYSE:XRX opened at $8.39 on Friday. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.95 and a current ratio of 1.26. Xerox Holdings Co. has a 52-week low of $8.02 and a 52-week high of $19.78. The business’s 50 day simple moving average is $9.05 and its two-hundred day simple moving average is $10.48. The firm has a market cap of $1.04 billion, a P/E ratio of -0.76 and a beta of 1.59.

Xerox (NYSE:XRX) last announced its quarterly earnings results on Tuesday, October 29th. The information technology services provider reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.26). Xerox had a negative net margin of 21.31% and a positive return on equity of 6.60%. The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter last year, the firm posted $0.46 EPS. The business’s revenue for the quarter was down 7.5% compared to the same quarter last year. As a group, research analysts forecast that Xerox Holdings Co. will post 1.12 EPS for the current fiscal year.

Xerox Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.00 annualized dividend and a yield of 11.92%. Xerox’s payout ratio is -9.06%.

Analysts Set New Price Targets

Several research firms recently commented on XRX. StockNews.com raised Xerox from a “hold” rating to a “buy” rating in a research note on Monday, December 16th. Morgan Stanley reduced their price objective on shares of Xerox from $10.00 to $8.00 and set an “underweight” rating for the company in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Xerox from $11.00 to $8.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 30th. Three analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Xerox currently has an average rating of “Hold” and a consensus price target of $9.50.

About Xerox

Xerox Holdings Corporation, together with its subsidiaries, operates as a workplace technology company that integrates hardware, services, and software for enterprises in the Americas, Europe, the Middle East, Africa, India, and internationally. The company operates through two segments, Print and Other; and FITTLE.